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Invariant Investment Management

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$170.6M

Reporting period: 2026-06-30 · Number of holdings: 68

Invariant Investment Management disclosed 68 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $170.6M and a quarterly turnover rate of 18.5%.

Personality snowflake

Concentration
31.84
Portfolio Stability
18.46
Momentum/Contrarian
97.46
Sector conviction
44.91
Diversification
100
Sizing Uniformity
78.84

Recent moves

  • Trim AVEM

    -49.8%　-$5.6M

  • New buy USMV

  • Add IEF

    +24.9%　$5.0M

  • Trim AVDV

    -10.0%　-$1.6M

  • Add VOO

    +26.8%　$2.3M

  • Add RSP

    +4.2%　$3.1M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1RSPInvesco S&p 500 Equal WeightETF-Large Cap & Growth15.53%+1.12%+4.25%
2IEFIshares 7-10 Year Treasury BETF-Gov Bonds15.37%+2.28%+24.93%
3AVUVAvantis US Small Cap ValueETF-Small Cap10.90%-0.29%-4.68%
4AVDVAvantis Intl S/c Value ETFETF-Other9.36%-1.48%-10.01%
5SHYIshares 1-3 Year Treasury BoETF-Gov Bonds5.14%—+0.54%
6VOOVanguard S&p 500 ETFETF-Large Cap & Growth4.75%+1.19%+26.79%
7AVEMAvantis Emerging Markets EqETF-Emerging Markets4.16%-3.66%-49.77%
8SGOVIshares 0-3 Month Treasury BETF-Gov Bonds3.52%-0.78%-14.03%
9USMVIshares Msci USA Min Vol FacETF-Other2.98%+2.98%NEW
10JPSTJpmorgan Ultra-short IncomeETF-Other2.29%-0.24%-4.48%
11AVUSAvantis U.s. Equity ETFETF-Other1.77%+0.13%+2.67%
12JMSTJPM Ultra-short Muni IncomeETF-Other1.70%—-1.11%
13BSMSInvesco Bulletshares 2028 MbETF-Other1.56%—+0.68%
14MBBIshares Mbs ETFETF-Other1.10%-0.03%+3.63%
15AAPLApple INCStock-Tech0.82%+0.07%-4.53%
16MOAltria Group INCStock-Consumer Staples0.80%—-1.57%
17VVisa Inc-class A SharesStock-Financials0.77%+0.09%+1.97%
18CAHCardinal Health INCStock-Healthcare0.76%+0.01%-3.20%
19AGGIshares Core U.s. AggregateETF-Other0.67%+0.02%+8.62%
20GWWWw Grainger INCStock-Industrials0.67%+0.03%-5.44%
21MAMastercard INC - AStock-Financials0.64%+0.13%+22.99%
22NVDANvidia CORPStock-Tech0.63%—+0.14%
23ADBEAdobe INCStock-Tech0.63%+0.02%+15.28%
24MCKMckesson CORPStock-Healthcare0.62%-0.12%-1.75%
25CLColgate-palmolive CoStock-Consumer Staples0.60%+0.11%+19.56%
26EQTEqt CORPStock-Energy0.56%-0.12%-0.31%
27DPZDomino's Pizza INCStock-Consumer Disc0.54%+0.11%+59.83%
28EOGEog Resources INCStock-Energy0.52%-0.06%-1.71%
29ORLYO'reilly Automotive INCStock-Consumer Disc0.50%-0.10%-0.53%
30BILSs Spdr Bb 1-3m T-bill ETFETF-Gov Bonds0.50%+0.03%+12.19%
31NTAPNetapp INCStock-Tech0.49%+0.03%-33.67%
32ULTAUlta Beauty INCStock-Consumer Disc0.47%-0.12%-0.83%
33LULULululemon Athletica INCStock-Consumer Disc0.44%+0.08%+83.30%
34APOApollo Global Management INCStock-Financials0.43%+0.07%+10.78%
35JNJJohnson & JohnsonStock-Healthcare0.41%+0.02%+1.75%
36LOWLowe's Cos INCStock-Consumer Disc0.41%-0.13%-12.60%
37BNYBank Of New York Mellon CORPStock-Financials0.41%+0.05%+0.39%
38TSLATesla INCStock-Consumer Disc0.40%+0.05%—
39LIILennox International INCStock-Industrials0.39%—-10.10%
40SPHQInvesco S&p 500 Quality ETFETF-Large Cap & Growth0.34%+0.02%+0.02%
41IUSVIshares Core S&p U.s. ValueETF-Other0.33%+0.05%+16.72%
42PHYSSprott Physical Gold TrustStock-Other0.29%-0.06%—
43VTIVanguard Total Stock Mkt ETFETF-Other0.28%+0.02%+0.31%
44PRFZInv Rafi US 1500 Sm-usd INCETF-Other0.26%+0.02%—
45PMPhilip Morris InternationalStock-Consumer Staples0.25%-0.11%-35.08%
46CZRCaesars Entertainment INCStock-Consumer Disc0.24%+0.02%—
47BSMWInvesco Bulletshares 2032 MbETF-Other0.24%—+0.80%
48BSMTInvesco Bulletshares 2029 MbETF-Other0.23%—+0.57%
49GLDSpdr Gold SharesETF-Commodities0.23%-0.04%—
50MSFTMicrosoft CORPStock-Tech0.22%+0.02%+11.63%
1–50 of 68

Holding changes this quarter

Invariant Investment Management's most significant position changes for 2026-06-30: New buy: Ishares Msci USA Min Vol Fac (USMV); Sold out: Kla CORP (KLAC); Sold out: Invesco Bulletshares 2026 Mb (BSMQ); Sold out: Applied Materials INC (AMAT); Sold out: Ishares Silver Trust (SLV).

Position changes disclosed by Invariant Investment Management for the quarter ending 2026-06-30, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1USMVIshares Msci USA Min Vol Fac+3%NEWNew buy
2IEFIshares 7-10 Year Treasury B+2.3%+24.93%Add
3VOOVanguard S&p 500 ETF+1.2%+26.79%Add
4RSPInvesco S&p 500 Equal Weight+1.1%+4.25%Add
5AVUSAvantis U.s. Equity ETF+0.1%+2.67%Add
6MAMastercard INC - A+0.1%+22.99%Add
7VTVVanguard Value ETF+0.1%NEWNew buy
8CLColgate-palmolive Co+0.1%+19.56%Add
9DPZDomino's Pizza INC+0.1%+59.83%Add
10VVisa Inc-class A Shares+0.1%+1.97%Add
11LULULululemon Athletica INC+0.1%+83.30%Add
12AAPLApple INC+0.1%-4.53%Trim
13APOApollo Global Management INC+0.1%+10.78%Add
14TSLATesla INC+0.1%—Unchanged
15IUSVIshares Core S&p U.s. Value+0.1%+16.72%Add
16BNYBank Of New York Mellon CORP+0.1%+0.39%Add
17GWWWw Grainger INC0%-5.44%Trim
18NTAPNetapp INC0%-33.67%Trim
19BILSs Spdr Bb 1-3m T-bill ETF0%+12.19%Add
20ADBEAdobe INC0%+15.28%Add
21AGGIshares Core U.s. Aggregate0%+8.62%Add
22SPHQInvesco S&p 500 Quality ETF0%+0.02%Add
23JNJJohnson & Johnson0%+1.75%Add
24PRFZInv Rafi US 1500 Sm-usd INC0%—Unchanged
25MSFTMicrosoft CORP0%+11.63%Add
26CZRCaesars Entertainment INC0%—Unchanged
27VTIVanguard Total Stock Mkt ETF0%+0.31%Add
28CAHCardinal Health INC0%-3.20%Trim
29NVDANvidia CORP—+0.14%Add
30MOAltria Group INC—-1.57%Trim
31MBBIshares Mbs ETF0%+3.63%Add
32GLDSpdr Gold Shares0%—Unchanged
33VGSHVanguard Short-term Treasury0%-18.10%Trim
34PHYSSprott Physical Gold Trust-0.1%—Unchanged
35EOGEog Resources INC-0.1%-1.71%Trim
36ORLYO'reilly Automotive INC-0.1%-0.53%Trim
37PMPhilip Morris International-0.1%-35.08%Trim
38ULTAUlta Beauty INC-0.1%-0.83%Trim
39EQTEqt CORP-0.1%-0.31%Trim
40MCKMckesson CORP-0.1%-1.75%Trim
41SLVIshares Silver Trust-0.1%EXITSold out
42LOWLowe's Cos INC-0.1%-12.60%Trim
43AMATApplied Materials INC-0.2%EXITSold out
44BSMQInvesco Bulletshares 2026 Mb-0.2%EXITSold out
45JPSTJpmorgan Ultra-short Income-0.2%-4.48%Trim
46AVUVAvantis US Small Cap Value-0.3%-4.68%Trim
47KLACKla CORP-0.5%EXITSold out
48SGOVIshares 0-3 Month Treasury B-0.8%-14.03%Trim
49AVDVAvantis Intl S/c Value ETF-1.5%-10.01%Trim
50AVEMAvantis Emerging Markets Eq-3.7%-49.77%Trim

FAQ

What is Invariant Investment Management and what type of investor is it?
Invariant Investment Management is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $170.6M, spread across 68 disclosed positions.
What are Invariant Investment Management's largest equity positions?
Based on the latest 13F filing, Invariant Investment Management's top holdings by market value are: 1. Invesco S&p 500 Equal Weight (RSP) — $26.5M (15.5%) 2. Ishares 7-10 Year Treasury B (IEF) — $26.2M (15.4%) 3. Avantis US Small Cap Value (AVUV) — $18.6M (10.9%) 4. Avantis Intl S/c Value ETF (AVDV) — $16.0M (9.4%) 5. Ishares 1-3 Year Treasury Bo (SHY) — $8.8M (5.1%)
What changes did Invariant Investment Management make in its most recent portfolio filing?
In the latest reported quarter, Invariant Investment Management made 45 notable position adjustments: 2 new positions were initiated, 21 existing holdings were added to, 18 positions were partially reduced, and 4 were completely exited. The largest of these moves: New buy: Ishares Msci USA Min Vol Fac (USMV); Sold out: Kla CORP (KLAC); Sold out: Invesco Bulletshares 2026 Mb (BSMQ); Sold out: Applied Materials INC (AMAT); Sold out: Ishares Silver Trust (SLV)
What sectors does Invariant Investment Management focus on?
Invariant Investment Management is concentrated in the following sectors based on its current disclosed equity portfolio: • Consumer Discretionary: 20.3% • Information Technology: 18.9% • Financials: 15.1% • Health Care: 13.4% • Consumer Staples: 13.3% • Industrials: 8.5%